SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2013

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Schedule of components of the derivative liability

Below is a hierarchy table of the components of the derivative liability:

	Carrying			Fair Value Measurements Using
	Value			Level 1		Level 2		Level 3			Total

Derivative Liabilities
12/31/2012	$	8,025,381		$	-	$	-	$	8,025,381		$	8,025,381

Change in derivative liabilities due to settlements		(6,987,432	)		-		-		(6,987,432	)		(6,987,432	)
Change in derivative liabilities valuation		(906,791	)		-		-		(906,791	)		(906,791	)
		(7,894,223	)		-		-		(7,894,223	)		(7,894,223	)

Derivative Liabilities
9/30/2013	$	131,158		$	-	$	-	$	131,158		$	131,158

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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